Question

Match the economic system to its definition.(2 points)
Put responses in the correct input to answer the question. Select a response, navigate to the desired input and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
market economy
mixed economy
traditional economy
command economy

a) an economy where a central government determines both the allocation of resources and the production of goods and services
b) an economy that takes elements from both a market economy and a command economy to allocate resources and determine the production of goods and services
c) an economy where culture determines both the allocation of resources and the production of goods and services
d) an economy where price signals, resulting from supply and demand forces within the economy, determine the allocation of resoures and the production of goods and servies

Answer 1

a) command economy
b) mixed economy
c) traditional economy
d) market economy